Completion of PP should let share price rise if news from drilling in Ontario warrants it
"Mr. Michael England reports
CARIBOU CLOSED PRIVATE PLACEMENT
Caribou King Resources Ltd., further to its news releases dated Jan. 30, 2014, and Feb. 12, 2014, has completed its non-brokered private placement of 3.68 million non-flow-through (NFT) units at a price of five cents per NFT unit and 1.5 million flow-through (FT) units at a price of five cents per FT unit for a total gross proceeds of $259,000.
Each NFT unit comprises one common share and one share purchase warrant of the company. Each warrant will entitle the holder to purchase one share at a price of six cents per warrant share until Feb. 18, 2016.
Each FT unit comprises one share and one-half of one warrant of the company. Each whole warrant will entitle the holder to purchase one warrant share at a price of 10 cents per warrant share until Feb. 12, 2016.
All securities issued pursuant to the private placement are subject to a hold period with the FT units expiring on June 13, 2014, and the NFT units expiring on June 19, 2014.
With respect to the FT units, the company issued to the finders under the offering a total of 120,000 finders' warrants to purchase up to 120,000 non-flow-through common shares in the capital of the company at a price of five cents per finder's warrant share for a period of 18 months. In addition, the company paid cash commissions to the finders totalling $6,000.
The company did not pay finders' fees or issue finders' warrants with respect to the NFT units of the offering."
